Memecoins crash after DOJ probe into Trump’s Crypto Gala wey make pipo dey fear and market come sell-off.
Memecoin market get serious shakiness afta some wahala for politics wey connect former President Donald Trump with one crypto-themed dinner party. First, one US senator talk say wetin happen no good, say e go spoil financial market trust. Den lawmakers come tell Department of Justice straight say make dem investigate. This matter make market come get serious fear, Bitcoin fall 4.5% and all meme token market cap fall 7.5%. Big memecoins like PEPE, TRUMP, WIF, and FLOKI lose between 9% and 12.5%. All di trading wey dey happen for meme market fall over 10%. All this sudden sell-off for market make $598 million crypto money liquidate, and most of am ($508 million) na from pipu wey buy long, meaning say pipu wey dey expect price to go up no expect di wahala from government news. Even with di big fall, pipu wey get plenty tokens like PEPE and TRUMP dey carry dem comot from exchange, maybe meaning say big investors dey buy when price low. Experts wey dey check chart say price fit still fall more if bad feeling continue, but di places wey don show support fit make price bounce back if pipu start to buy again. This whole thing show say meme coin price too sensitive to political news and government rules, so traders must sabi say dem need to dey look out for outside things apart from just wetin market indicators dey talk.
Bearish
Wetin di Department of Justice dey investigate about Donald Trump crypto dinner don cause serious wahala and plenty fall for memecoin market and crypto market generally. Dis government action make pipo sell plenty, market value fall well well, and dem liquidate plenty, especially for pipo wey get long positions. All dis tin show say memecoins wey pipo just dey buy based on hype no strong when bad news about government rules and politics happen. Even though big money pipo (whales) dey buy some tokens, wey fit mean say e go bounce back if pipo mind change, di way e dey go now na down down, because pipo no dey sure and dem dey fear risk. If no good solution or change for how pipo dey feel happen, e go still dey fall, so di market for memecoins wey dis tin affect go dey bad for short to medium term.